Composite Packaging Market Size Worth USD 13.93 Billion By 2032 | CAGR: 5.2%

Composite Packaging Market Size Worth $13.93 Billion By 2032 | CAGR: 5.2%

The global composite packaging market size is expected to reach USD 13.93 billion by 2032, according to a new study by Polaris Market Research. The report “Composite Packaging Market Share, Size, Trends, Industry Analysis Report, By Type; By End-Use (Food and Beverage, Industrial Goods, Healthcare, Consumer Goods, Others); By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Composite packaging materials are hybrid packaging materials that give the packaging material numerous characteristics or joint properties. Due to the expansion of the retail and e-commerce sectors, many goods now require effective packaging that provides security, strength, ease of handling, longevity, and transit. Composite packaging offers these kinds of qualities.

The change in lifestyle and the expanding e-commerce industry globally are two important factors anticipated to expand the development of the composite packaging market in the forecast period. The choice of consumers for online purchasing, which necessitates greater product protection due to bulk shipment, and the rise in packaged food and beverage demand are additional factors expected to fuel the market growth.

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The market for composite packing is growing due to the worldwide expansion of e-commerce. Additionally, its demand is increasing due to people's increased reliance on online shopping, where products must be properly packaged. The government and the World Health Organization have made an effort to make much more advanced medications. The need for composite packing has increased due to the demand for appropriate packaging for these medications.

Composite Packaging Market Report Highlights

  • Plastic segment accounted for the highest share in 2022 due to plastic providing a range of benefits to composite packaging, including durability, flexibility, and lightweight, and also increasing demand for sustainable packaging solutions.
  • Food and beverages industry segment accounted for the largest market revenue share in 2022, which is mainly driven by composite packaging is widely used in the packaging of various food and beverage products such as snacks, dairy products, ready-to-eat meals, beverages, and also protects the products from damage, contamination, and spoilage during transportation and storage.
  • North America dominated the global market in 2022 and will maintain its dominance over the forecast period, due to the growth of e-commerce, and the rise in demand for packaged food and beverages. Additionally, the use of composite packaging in the healthcare sector for the safe transportation and storage of medical devices, pharmaceuticals, and other healthcare products is expected to drive market growth.
  • The global key market players include Amcor, DS Smith, Mondi, Smurfit Kappa, Sonoco, Mondi Plc., Crown Holdings, Sealed Air Corporation Universal Packaging Ltd, Najmi Industries, Sota Packaging Pty Ltd.

Polaris Market Research has segmented the composite packaging market report based on type, end-use, and region:

Composite Packaging, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Plastic
  • Paper
  • Cardboard
  • Others

Composite Packaging, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

  • Food and Beverage
  • Industrial goods
  • Healthcare
  • Consumer goods
  • Others

     Composite Packaging, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa